[Congressional Record Volume 151, Number 47 (Tuesday, April 19, 2005)]
[Senate]
[Pages S3902-S3903]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. DURBIN:
  S. 846. A bill to provide fair wages for America's workers; read the 
first time.
  Mr. DURBIN. Mr. President, I ask unanimous consent that the text of 
the bill be printed in the Record.
  There being no objection, the bill was ordered to be printed in the 
Record, as follows:

                                 S. 846

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

                  TITLE I--OVERTIME RIGHTS PROTECTION

     SEC. 101. CLARIFICATION OF REGULATIONS RELATING TO OVERTIME 
                   COMPENSATION.

       Section 13 of the Fair Labor Standards Act of 1938 (29 
     U.S.C. 213) is amended by adding at the end the following:
       ``(k)(1) Notwithstanding the provisions of subchapter II of 
     chapter 5 and chapter 7 of title 5, United States Code 
     (commonly referred to as the Administrative Procedures Act) 
     or any other provision of law, any portion of the final rule 
     promulgated on April 23, 2004, revising part 541 of title 29, 
     Code of Federal Regulations, that exempts from the overtime 
     pay provision of section 7 of this Act any employee who would 
     not otherwise be exempt if the regulations in effect on March 
     31, 2003, remained in effect, shall have no force or effect 
     and that portion of such regulations (as in effect on March 
     31, 2003) that would prevent such employee from being exempt 
     shall be reinstated.
       ``(2) The Secretary shall adjust the minimum salary level 
     for exemption under section 13(a)(1) in the following manner:
       ``(A) Not later than 60 days after the date of enactment of 
     this subsection, the Secretary shall increase the minimum 
     salary level for exemption under subsection (a)(1) for 
     executive, administrative, and managerial occupations from 
     the level of $155 per week in 1975 to $591 per week (an 
     amount equal to the increase in the Employment Cost Index 
     (published by the Bureau of Labor Statistics) for executive, 
     administrative, and managerial occupations between 1975 and 
     2005).
       ``(B) Not later than December 31 of the calendar year 
     following the increase required in subparagraph (A), and each 
     December 31 thereafter, the Secretary shall increase the 
     minimum salary level for exemption under subsection (a)(1) by 
     an amount equal to the increase in the Employment Cost Index 
     for executive, administrative, and managerial occupations for 
     the year involved.''.

                      TITLE II--FAIR MINIMUM WAGE

     SEC. 111. MINIMUM WAGE.

       (a) In General.--Section 6(a)(1) of the Fair Labor 
     Standards Act of 1938 (29 U.S.C. 206(a)(1)) is amended to 
     read as follows:
       ``(1) except as otherwise provided in this section, not 
     less than--
       ``(A) $5.85 an hour, beginning on the 60th day after the 
     date of enactment of this paragraph;
       ``(B) $6.55 an hour, beginning 12 months after that 60th 
     day; and
       ``(C) $7.25 an hour, beginning 24 months after that 60th 
     day;''.
       (b) Effective Date.--The amendment made by subsection (a) 
     shall take effect 60 days after the date of enactment of this 
     Act.

  TITLE III--SENSE OF THE SENATE REGARDING MULTIEMPLOYER PENSION PLANS

     SEC. 121. SENSE OF THE SENATE REGARDING MULTIEMPLOYER PENSION 
                   PLANS.

       (a) Findings.--The Senate makes the following findings:
       (1) Multiemployer pension plans have been a major force in 
     the delivery of employee benefits to active and retired 
     American workers and their dependents for over half a 
     century.
       (2) There are approximately 1,700 multiemployer defined 
     benefit pension plans in which approximately 9,700,000 
     workers and retirees participate.
       (3) Three-quarters of the approximately 60,000 to 65,000 
     employers that participate in multiemployer plans have fewer 
     that 100 employees.
       (4) Multiemployer plans allow for greater access and 
     affordability for smaller employers and pension portability 
     for their employees as they move from one job to another, and 
     permit workers to earn a pension where they might otherwise 
     not be able to do so.
       (5) The 2000-2002 drop in the stock market and decline in 
     equity values has affected all investors, including 
     multiemployer plans.
       (6) The decline in value sustained by multiemployer defined 
     benefit pension plans have threatened the stability of this 
     private sector source of secure retirement income.
       (7) Participating employers could face onerous excise taxes 
     and other penalties as a result of the serious, adverse 
     financial impact due to these market losses.
       (8) In 2004, the United States Senate recognized the 
     severity of this situation and passed by an overwhelmingly, 
     large bipartisan margin of 86 to 9 temporary relief 
     provisions for single and multiemployer defined benefit 
     pension plans.
       (b) Sense of the Senate.--It is the sense of the Senate 
     that the Senate--
       (1) expresses its strong support for multiemployer defined 
     benefit pension plans;
       (2) recognizes the importance of an environment in which 
     multiemployer plans can continue their vital role in 
     providing benefits to working men and women;

[[Page S3903]]

       (3) recognizes that multiemployer pension plan relief must 
     be designed for the multiemployer labor-relations environment 
     that supports the plans; and
       (4) supports legislation to strengthen and protect the 
     viability of multiemployer pension plans for the continued 
     benefit of current and retired members, and their families 
     and survivors, and to strengthen the ability of all plans to 
     address funding problems that occur.
                                 ______